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Linda, age 37, who files as a single taxpayer, had AGI of $280,000 for 2013. She incurred the following expenses and losses during the year.
Medical expenses before the 10%-of-AGI limitation $33,000
State and local income taxes 4,500
State sales tax 1,300
Real estate taxes 4,000
Home mortgage interest 5,000
Automobile loan interest 750
Credit card interest 1,000
Charitable contributions 7,000
Casualty loss before 10% limitation (after $100 floor) 34,000
Unreimbursed employee expenses subject to the 2%-of-AGI limitation 7,600
find out Linda's allowable itemized deductions for the year.

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  • Category:- Accounting Basics
  • Reference No.:- M942024

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